Kathmandu. Sagar Distillery’s initial public offering (IPO) has been postponed.
The company was scheduled to open its IPO to the general public from September 25. However, in view of the current difficult situation in the country, the company has postponed the IPO issuance until further notice.
The company was allowed to issue 14,52,000 units of shares worth Rs 14.52 crore, i.e. 20% of the issued capital of Rs 72.60 crore. Out of the total offered shares, 145,200 units have already been issued to Nepalese working abroad.
The company has set aside 5% i.e. 72,600 units to mutual funds and 43,560 units have been set aside for the employees of the company. The company is issuing 1,190,640 units of shares at a face value of Rs 11,90,64,000 to the general public. For now, the eviction process has been postponed.
Muktinath Capital has been appointed as the issue manager for the IPO issuance.
